Bitcoin value sets new record, surpassing $124,000

Bitcoin reached its highest value in history on Thursday morning, August 14, in early Asian trading. It surpassed the $124,000 threshold for the first time, driven by rising US stocks, interest from institutional investors, and favorable US legislation. The cryptocurrency star thus broke its previous record, which only dated back to July 14 ($123,205), briefly surpassing $124,500 before falling back. At around 3:00 a.m. French time, Bitcoin was trading at around $123,600.

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US stocks closed sharply higher on Wednesday on the New York Stock Exchange, with the S&P 500 index hitting a new high, as did the tech-heavy Nasdaq, contributing to the rise in the cryptocurrency.

Bitcoin has been showing significant growth for several months, encouraged in particular by the favorable legislative climate put in place by US President Donald Trump. "The cryptocurrency market benefits from very favorable fundamentals," Samer Hasn, market analyst at XS.com, recently recalled. On the regulatory front, the last major legal battles waged by the US regulator of the sector are now closed.

Additionally, "Donald Trump has taken steps to end restrictions that previously prevented banks from doing business with companies flagged for reputational risks, a category into which cryptocurrency companies were often unfairly placed."

Never better served than by himself, the American president could also be inclined to accelerate the integration of cryptocurrencies into the national financial system and to lift additional restrictions, given his and his family's growing involvement in this sector. While he had been very critical of these digital currencies with their highly unstable prices during his first stay in the White House, Donald Trump had also turned his back on them by presenting himself as the champion of bitcoin during his 2024 campaign.